Summit Securities Group LLC Acquires Shares of 11,634 Autoliv, Inc. $ALV

Key Points

• Summit Securities Group LLC has purchased a new stake in Autoliv, Inc. worth approximately $1,029,000, acquiring 11,634 shares during the first quarter.
• Several institutional investors, including Algert Global LLC and American Century Companies Inc., have significantly increased their stakes in Autoliv, reflecting growing institutional confidence in the company.
• Autoliv has announced an increase in its quarterly dividend to $0.85 per share, up from $0.70, and has initiated a stock buyback plan allowing it to repurchase up to $2.50 billion worth of shares.

Summit Securities Group LLC purchased a new position in shares of Autoliv, Inc. (NYSE:ALV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,634 shares of the auto parts company's stock, valued at approximately $1,029,000.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new position in shares of Autoliv during the 1st quarter worth $25,000. GAMMA Investing LLC raised its holdings in Autoliv by 122.9% in the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock valued at $33,000 after buying an additional 204 shares during the period. FNY Investment Advisers LLC purchased a new stake in Autoliv in the 1st quarter valued at about $44,000. Signaturefd LLC raised its holdings in Autoliv by 63.4% in the 1st quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after buying an additional 263 shares during the period. Finally, UMB Bank n.a. raised its holdings in Autoliv by 188.6% in the 1st quarter. UMB Bank n.a. now owns 788 shares of the auto parts company's stock valued at $70,000 after buying an additional 515 shares during the period. Hedge funds and other institutional investors own 69.57% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of Autoliv from $95.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Wall Street Zen upgraded shares of Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Robert W. Baird reduced their price objective on shares of Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a report on Monday, July 21st. Royal Bank Of Canada assumed coverage on shares of Autoliv in a report on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 price objective on the stock. Finally, UBS Group boosted their price objective on shares of Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $120.64.

Insiders Place Their Bets

In related news, Director Jan Carlson sold 1,555 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total transaction of $168,437.60. Following the completion of the sale, the director owned 77,493 shares in the company, valued at $8,394,041.76. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

Autoliv Stock Up 3.3%

Shares of Autoliv stock traded up $3.9530 on Friday, reaching $124.0330. 260,882 shares of the company were exchanged, compared to its average volume of 802,504. Autoliv, Inc. has a 1-year low of $75.49 and a 1-year high of $124.82. The company has a market cap of $9.53 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70. The stock's 50 day moving average price is $114.53 and its 200-day moving average price is $101.31.

Autoliv (NYSE:ALV - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.14. Autoliv had a return on equity of 30.73% and a net margin of 6.83%.The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The business's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Autoliv, Inc. will post 9.51 EPS for the current year.

Autoliv Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Friday, September 5th. This is a positive change from Autoliv's previous quarterly dividend of $0.70. This represents a $3.40 annualized dividend and a yield of 2.7%. Autoliv's dividend payout ratio (DPR) is presently 37.20%.

Autoliv announced that its board has authorized a stock repurchase program on Wednesday, June 4th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the auto parts company to reacquire up to 31.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

About Autoliv

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.